Friday, July 9, 2010

Technical View on Nifty for July, 10th, 2010

Nifty today broken the short term resistance zone of 5350 to 5360 but could not be able to continue the upper rally and got consolidated around the higher levels. It was overall the positive trading session for market. Now in upcoming trading sessions the key resistance zone seems to be around 5395 to 5400. Closing above this resistance zone may further confirm the price hike in market. In the downside closing below 5300 to 5305 may drag it till the lower levels of 5230 to 5235 in near term. We recommend that traders should watch out the 5400 level if it does not break then one may go for sell on rise for the targets of 5230,5200.


Posted By Commodity MCX Tips